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Question - On January 1, 2012, Haley Co. issued ten-year bonds with a face amount of P4,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. What the total issue price of the bonds?
a. 4,000,000
b. 3,680,000
c. 3,920,000
d. 3,510,400
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